Ok, heres a deal I picked up with one of my agents that works the Colorado area but also the Nevada area because hes licensed there too and if it weren't for me saying yes I would have never come across this decent deal...At first I said no, no way and then an impulse hit me to just check to see what deals I can pick up that way...I found a house in Reno with $300,000 in equity, I thought, no it cant be! This must be a short sale or something. When I got in contact with the owners turns out it wasn't a short sale...Shes just trying to get it sold very very quickly...so you know what that meant, shes very very motivated...I got my guy the one that works in Denver to help pull comps and he got in contact with Chase Real Estate team that only is fixated on high end/luxury homes and their comps are valued and trusted...After looking at the comps, I said ok, this home does check out...Only minor cosmetic repairs are needed...your basic everyday do it yourself type of work...So after seeing the value was there...I put in my offer, got it accepted at $700k and put it under contract today...will most likely if I can assign it for a $50k profit and after crunching all the numbers and adding in the 5% in closing costs and all holding costs for a couple of months the investor can expect a profit of $160k to be had in his pocket...In the event that I cant find a buyer by 9/24 Im also looking for money lenders that will be easy on me and help me out in the process...Another dilemma I am facing is EMD...the EMD she is requesting is $5,000 which I will need to open escrow by Tuesday or she will be open to looking at other offers...Anyone want a $10k cut for helping me out with EMD deposit? Also if you know anyone in the Nevada area that buys high end homes for cash and would like some good equity feel free to let me know!!! in dire need!!! I would also love to hear some feedback on this deal...Its more of a steal because of its equity alone!!! Better than the other deal I found last month huh?
Ok, heres a deal I picked up with one of my agents that works the Colorado area but also the Nevada area because hes licensed there too and if it weren't for me saying yes I would have never come across this decent deal...At first I said no, no way and then an impulse hit me to just check to see what deals I can pick up that way...I found a house in Reno with $300,000 in equity, I thought, no it cant be! This must be a short sale or something. When I got in contact with the owners turns out it wasn't a short sale...Shes just trying to get it sold very very quickly...so you know what that meant, shes very very motivated...I got my guy the one that works in Denver to help pull comps and he got in contact with Chase Real Estate team that only is fixated on high end/luxury homes and their comps are valued and trusted...After looking at the comps, I said ok, this home does check out...Only minor cosmetic repairs are needed...your basic everyday do it yourself type of work...So after seeing the value was there...I put in my offer, got it accepted at $700k and put it under contract today...will most likely if I can assign it for a $50k profit and after crunching all the numbers and adding in the 5% in closing costs and all holding costs for a couple of months the investor can expect a profit of $160k to be had in his pocket...In the event that I cant find a buyer by 9/24 Im also looking for money lenders that will be easy on me and help me out in the process...Another dilemma I am facing is EMD...the EMD she is requesting is $5,000 which I will need to open escrow by Tuesday or she will be open to looking at other offers...Anyone want a $10k cut for helping me out with EMD deposit? Also if you know anyone in the Nevada area that buys high end homes for cash and would like some good equity feel free to let me know!!! in dire need!!! I would also love to hear some feedback on this deal...Its more of a steal because of its equity alone!!! Better than the other deal I found last month huh?